Hi,
My query regarding LTA is as follows :
Our company considers LTA payment from Apr - March. An employee goes on maternity leave form Apr - July and does not return after completion of 3 months. Company pays salary for July & Aug. She resigns on 14th Oct but does not serve notice period. In fact she hasnt served the company in the current finanncial year. Is she eligible for LTA ? how would the pro-rata of LTA calculation be worked out?
Need a reply ASAP pls.
Regards,
Trishna Chopra
From India, Pune
My query regarding LTA is as follows :
Our company considers LTA payment from Apr - March. An employee goes on maternity leave form Apr - July and does not return after completion of 3 months. Company pays salary for July & Aug. She resigns on 14th Oct but does not serve notice period. In fact she hasnt served the company in the current finanncial year. Is she eligible for LTA ? how would the pro-rata of LTA calculation be worked out?
Need a reply ASAP pls.
Regards,
Trishna Chopra
From India, Pune
Dear Trishna,
Is employee was confirmed with the company. If, confirmed then you will have to pay & on pro-rata basis.
The calc is as follows:
Annual LTA/12 X no. of months in service for that FY year.
Regards,
Ashish
From India, Mumbai
3Is employee was confirmed with the company. If, confirmed then you will have to pay & on pro-rata basis.
The calc is as follows:
Annual LTA/12 X no. of months in service for that FY year.
Regards,
Ashish
From India, Mumbai
Also if the employee has not served notice period than you can deduct salary in lieu of Notice period while doing FULL N FINAL Settlement. Regards Ashish
From India, Mumbai
From India, Mumbai
Dear Mr Ashish i have a doubt whether an employee is eligible if he/she is not attended duty in full financial year regards jayachander
From India, Madras
From India, Madras
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Full n final settlement.doc
Full & final.xls